Click it and Unblock the Notifications
Just In
Don't Miss
-
7:1 Bonus, 1:10 Split: At Rs 3.5, NBFC Penny Stock Hits Back-To-Back Lower Circuits; Big Announcement Soon -
EXCLUSIVE Interview! Alankrita Sahai On Journey From Beauty Pageant Winner To Films, Nepotism In Bollywood -
KKR vs RR, IPL 2024 Twitter Reaction: Sunil Narine hailed by Social Media after Stellar Century -
Ram Navami 2024 Wishes, Greetings, Messages, Images, Posters, WhatsApp, Twitter And Instagram Status -
UPSC CDS 1 Exam on 21 April 2024 -
Jeep Compass Gets More Powerful 268.3bhp Turbo Petrol Engine – Check Out All The Details Here -
Redmi Pad SE With 90Hz Display Launching on April 23 in India; Could Be Priced for Less Than Rs 20,000 -
From Coconut Breaking on Head to Men Dressing as Women: 12 Unique Indian Rituals Explored
Facebook plans its first stock buyback
Facebook does not offer a dividend and never has, but it does have $26 billion in cash and marketable securities.
New York, Nov 19: In a first since going public, Facebook is planning to buy back $6 billion in stock from shareholders beginning in the first quarter of of 2017, a document filed with the Securities and Exchange Commission revealed.
"Usually a stock buyback programme is a way to repay investors with cash currently sitting in the bank. Facebook does not offer a dividend and never has, but it does have $26 billion in cash and marketable securities, according to its latest earnings filing," RECODE reported on Friday.
"Facebook might also feel its stock is undervalued and want to bring some of it back in-house. Either way, this is Facebook's first stock buyback to date," the report added.
There are also reports about the resignation of Facebook's Chief Accounting Officer, Jas Athwal. After nine years, he will leave the company in mid-February.
IANS
